Downtown Houston post office delivers buyer

HOUSTON – Lovett Commercial is under contract to buy the downtown 16-acre post office property and turn it into an urban complex of shops, offices, housing and a hotel.

The 16-acre site houses a five-story office building and a one-story industrial building totaling 516,978 sf.

The downtown facility at 401 Franklin was shuttered earlier this year.

Lovett is also exploring ways to reuse portions of the site’s existing buildings, which sit on the northwestern edge of downtown, just north of Buffalo Bayou and across from the Theater District.

The property offers an "incredible location with direct connectivity to Buffalo Bayou and the Theater District," as well as "fantastic access to I-10, I-45, downtown and the Washington corridor," Lovett said.